First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 2,336.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,942 shares of the financial services provider's stock after buying an additional 9,534 shares during the period. GAMMA Investing LLC's holdings in First Interstate BancSystem were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FIBK. Wood Tarver Financial Group LLC purchased a new stake in First Interstate BancSystem in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new stake in shares of First Interstate BancSystem during the fourth quarter valued at about $69,000. Covestor Ltd raised its stake in shares of First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after acquiring an additional 510 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock worth $81,000 after acquiring an additional 2,231 shares during the last quarter. Finally, GTS Securities LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 88.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FIBK shares. Wells Fargo & Company cut their target price on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. Barclays dropped their price objective on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 target price on the stock in a research note on Monday. Finally, Wall Street Zen upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $34.43.

First Interstate BancSystem Stock Up 0.9%

Shares of NASDAQ:FIBK traded up $0.25 during trading on Wednesday, hitting $28.15. The company's stock had a trading volume of 921,675 shares, compared to its average volume of 704,226. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $36.77. The business has a 50 day moving average price of $27.08 and a two-hundred day moving average price of $29.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $2.95 billion, a PE ratio of 13.34 and a beta of 0.79.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $42.00 million for the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. As a group, research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.68%. First Interstate BancSystem's payout ratio is 89.10%.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.